Category: Business

Information regarding the business sector.

Cochabamba’s metropolitan train runs out of financing and carries $43 million in debt

The Government informed the Spanish company, Joca Molinari, that there are no more resources for the Cochabamba metropolitan train, and that external financing will seek to continue with the project. A debt of more than Bs 300 million ($43 mn) carries forward. The project demands a total of $447 million, of which three quarters has already paid. Government seeks external financing.

Minera San Cristobal paid $346.2 mn of taxes in 2019

According to the Sustainability Report presented, in the 2019 administration the San Cristobal Mining Company (MSC) had a production of 447 thousand tons of zinc-silver concentrate and 82 thousand tons of lead-silver concentrate, a total of 7.7% less than in 2018. At the national level, MSC paid taxes in the amount of 230.5 million dollars, corresponding to the 2018 management, as well as advance tax payments in the amount of 115.6 million dollars, corresponding to 2019. The royalties paid to the department of Potosí in 2019 amounted to $40.1 million (85%), and $7.1 million royalties destined only to the municipality of Colcha K.

ATB and La Razon acquired with $16.1 mn that the government of Venezuela lent to Bolivia

A report by the State Financial Investigations Unit establishes that the Venezuelan government lent the Bolivian State, between 2008 and 2009, $16.1 million through the Evo Cumple program. Then, $4.5 million were sent to Spain to accounts of the PRISA group, through the company Flaba Trading, which belongs to Marcelo Hurtado, for the acquisition of La Razón-Extra. The other $10.02 million were sent to accounts in the United States in the name of Jordán Silva Tugues, assistant to the Venezuelan Chavista businessman Carlos Gill, for the acquisition of ATB. The shares ended up in private hands: Marcelo Hurtado and Carlos Gill.

Milestone in wine industry with production of singani with 67k grape concentration per bottle

The project of singani Herencia was born in 2008. The enologists discovered that the traditional process of producing singani could be improved not only thanks to the technology incorporated but also thanks to how they make base wine for the distillate. They used 67 kilos of Muscat of Alexandria grapes, using only the core of the cut from the heart of the distillation. Also, it needs to rest for ten years in stainless steel tanks to achieve its excellent organoleptic characteristics. This characteristic positions it as the purest product of the market. The first batch of Herencia has only 3,000 bottles.

Entel will install 500 WiFi points in urban and rural municipalities for free internet access

The state-owned telephone company Entel will install, in the coming months, 500 WiFi points in urban and rural municipalities so that inhabitants can access the Internet service free of charge. It improves coverage capacity through the connection to the international fibre optic network of the Pacific Ocean, which inaugurated on September 4. The municipal authorities only have to offer a safe place for the WiFi antenna.

Entel announces $150 million savings

The Government invited this Monday the different operators to join the own optical fibre network that the country acquired to improve the connection to the internet. The previous week, the country connected to its fibre optic cable to the Pacific Ocean. With this, the State foresees to save […]

Nuevatel enters the Stock Market with issues for $24 mn

BDP Sociedad de Titularización S.A. issued the NUEVATEL Securitization Securities – BDP ST 049 for an amount of $24.1 million, of which $19.4 million purchased during the first day of placement. NUEVATEL PCS of Bolivia is the youngest company among the telecommunications operators of the country; the process consisted in replacing liabilities and allocating those resources to an investment project projected by NUEVATEL for the technological strengthening of the company, the development of fixed and mobile networks and the improvement of its financial position.

CBN and Irupana to distribute 250,000 rations of cereal in fight against Coronavirus

A cereal 100% natural and nutritious is the contribution of Cerveceria Boliviana Nacional (CBN) in alliance with the company Irupana, that united their raw material to elaborate 250,000 rations for personnel who fight in first line against the pandemic and affected communities. The first donation is of 10,000 rations of cereals, of a total of 250,000 for the personnel who fight in the first line against the pandemic. In the second phase, food will be delivered to communities affected by the health crisis.